Delta's Lenders Establish a Committee

By
Evan PerezStaff Reporter of THE WALL STREET JOURNAL

Updated June 29, 2004 12:01 am ET

Delta Air Lines Inc. creditors, taking another step to protect their interests and prepare for a possible bankruptcy-court filing, formed a committee to pursue restructuring talks with the third-largest U.S. airline.

The committee includes Delta debtholders, vendors and its pilots union, which has been in slow-moving wage-cut talks with the airline for a year, said Jonathan Rosenthal, partner at Saybrook Capital LLC, an investment company hired as financial adviser to the committee.